After AstraZeneca rejected what U.S. peer Pfizer said was its final increased offer, what's next in Pfizer's quest for the company? Dana Cimilluca joins MoneyBeat. Photo: Getty Images.

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... been been been been been ... good morning welcome to MoneyBeat I am Paul beanie a stock market U S stock markets starting out a little that the inside with say let's put it that way ... you see the Dow was down ten points the Nasdaq is up ... tech stocks doing a little better that's why that's been that ... well in the Essen P two point field basically flat ... not our move in the major indexes lot of news today though especially lot of news on the DL front normally focus on ... Pfizer Pfizer's high-profile Ives thinks pursuit ... of AstraZeneca own piano for the new debt and ... that representative board rejected a revised one hundred and twenty billion dollar offer ... will shareholders really be happy leave now much money on the table the answer to look into it the latest twists and turns ... in this Big Pharma story so ... in the billion billion with a B a dog that is a big deal and that is a lot of money to say no to insurance ... AstraZeneca course it is a big company but sure to be Shia or yes they are to be sure it's a it's a big premium over where the stock was before Pfizer start knocking on AstraZeneca store one interesting point to them I know is is that this is a so-called inversion deal that's become popular now where what Pfizer's trying to do is get on AstraZeneca's lower tax rate by buying the company ... when you look at these deal the U S company by the U K company correct people or expected ... if you look at these deals which have proliferated recently ... usually the premium paid is higher than your typical MNA GOP has a lot of risk associated with there's ... there's a lot of political controversy surrounding these kinds of things so you basically have to pay more to get one of these deals done ... so that's one thing that you know you wanna keep in mind when coupling this in context yet ... now on AstraZeneca's board said no hundred twenty billion dollars ... not exactly in the story right ... it's un clear ... it's part of our for me to see a way forward here given that Pfizer has effectively said this is our best if I'll ever ... AstraZeneca has said it's not enough ... it's hard to see how the two companies move forward it seems like it could be ... you know and impassible object in from the deal but Pfizer has officially pulled the plug I guess I would be surprised if they're waiting to see what the reaction from AstraZeneca shareholders is ... a last ditch hope that the shareholders ... stayed AstraZeneca headwinds were you doing what he said uh hundred and twenty billion dollars to turn all but one look some shareholders obviously are saying that ... will enough of them see that there is not ... willing to do this the deadline the two companies have now for final top yes yes this is a week or so for me a day or so today yet so ... that they get shareholder pressure ... does does he come back to the table it's conceivable that Pfizer has timed its so that they have a week for to sink in with AstraZeneca show to save you quite costly ... but aam I it also wouldn't surprise me if if nearer term Pfizer gospel on the ... if they do it this is the end of this ... how big a black eye is that that to them with a goal from this is the really good one for tax break is this really ... some is gonna hurt the company ... United have talk about this before it's is never good to start on a path like this ... if your company Pfizer Stasi such a massive deal right ... and and not finish until we will certainly be a black eye for them ... aam they have a date with our understanding is they're not can ago aam tried to another big deal ... aam but we shall say that ... I ... think you're a much appreciate common today ...